https://www.taxtmi.com/caselaws?id=408189 The NCLT dismissed the application under Section 60(5) of the Insolvency and Bankruptcy Code seeking a forensic audit and fresh EOI, upholding the CoC's decision for liquidation. Emphasizing limited interference in CoC's commercial decisions, the NCLT highlighted the importance of respecting the CoC's commercial wisdom in insolvency proceedings, in line with Supreme Court precedents. The judgment reiterated that NCLT and NCLAT should refrain from intervening in CoC decisions unless under exceptional circumstances, ultimately affirming the finality of the CoC's choice for liquidation. en-us Mon, 15 Mar 2021 00:00:00 +0530 Thu, 03 Jun 2021 08:36:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408189 The NCLT dismissed the application under Section 60(5) of the Insolvency and Bankruptcy Code seeking a forensic audit and fresh EOI, upholding the CoC's decision for liquidation. Emphasizing limited interference in CoC's commercial decisions, the NCLT highlighted the importance of respecting the CoC's commercial wisdom in insolvency proceedings, in line with Supreme Court precedents. The judgment reiterated that NCLT and NCLAT should refrain from intervening in CoC decisions unless under exceptional circumstances, ultimately affirming the finality of the CoC's choice for liquidation. Case-Laws Insolvency and Bankruptcy Mon, 15 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408189